If you live in NSW, and are buying your first home, stamp duty exemptions are about to reduce for those purchasing a new property or vacant land. At present, if you buy a new home i.e. a house, duplex or apartment that no one has lived in or owned before you, you are exempt from paying stamp duty on that property if the contract price is under 800K. If the contract price is between 800K and 1mil, there are concessions on the stamp duty payable. For vacant land, stamp duty i